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13 Cards in this Set
- Front
- Back
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Sogo Shosha |
Japanese trading houses that are proactive and continuously seek export opportunities for their affiliated companies |
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Export Management Company (EMC) |
Export specialists that act as the export marketing department or international department for their client firms. |
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Letter of Credit |
Issued by a bank at the request of an importer and states that the bank will pay a specified sum of money to a beneficiary, normally the exporter, on presentation of particular, specified documents |
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Bill of exchange |
Instrument normally used in international commerce to effect payment. |
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Draft |
Simply an order written by an exporter instructing an importer, or an importer's agent to pay a specified amount of money at a specified time. |
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Bill of Landing |
Document issued to the exporter by the common carrier transporting the merchandise. It is 1) a receipt 2) a contract 3) and a document of title. |
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Export-Import Bank (Ex-Im Bank) |
Independent agency of the US government. Its mission if to provide financing aid that will facilitate exports, imports, and the exchange of commodities between the USA and other countries. |
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Countertrade |
Denotes a range of barter-like agreements; its principle is to trade goods and services for other goods and services when they cannot be traded for money. |
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Barter |
The direct exchange of goods and services between two parties without a cash transaction. |
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Counterpurchase |
A reciprocal buying agreement. Occurs when a firm agrees to purchase a certain amount of materials back from a country to which a sale is made. |
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Offset |
One party agrees to purchase goods and services with a specified percentage of the proceeds from the original sale. The party can fulfill the obligation with any firm in the country to which the sale is being made. |
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Switch Trading |
Refers to the use of a specialized third-party trading house in a countertrade arrangement. |
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Buyback |
Occurs when a firm builds a plant in a country and agrees to take a certain percentage of the plant's output as partial payment for the contract. |
